La Doria Group, the investor-backed Italian food business, has struck its second deal of the week.
It has signed an agreement to acquire the private-label dry pasta business unit of local manufacturer Pastificio di Martino Gaetano.
La Doria will also buy back the 13% stake held by Pastificio Di Martino in its subsidiary La Doria LDH, according to a statement.
The Pastificio Di Martino transaction comes just days after La Doria announced the acquisition of local sauces and pesto business Clas.
Financial details for both transactions have not been disclosed.
Founded in 1912 in Gragnano, Pastificio di Martino is engaged in the
production and distribution of dry, fresh, frozen pasta and gnocchi under brand names such as Pasta di Martino IGP di Gragnano, Pasta Antonio Amato and Pastificio dei Campi di Gragnano. It also supplies products on a private-label basis.
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By GlobalDataIn 2023, its revenue was €170m ($183.4m), of which approximately 90% was generated outside of Italy.
As part of the deal, Giuseppe Di Martino will assume the role of “key pasta advisor” for the La Doria Group.
La Doria has been majority-owned by a unit of private-equity firm InvestIndustrial since 2022.
In this week’s earlier deal, it acquired 90% of Clas from Equinox and the rest from agri-food business Cominter.
La Doria, established in 1954, generated €1.23bn in revenue last year. Operating out of six production plants in Italy, it is mainly engaged in own-label for major retailers, although it owns its namesake brand, along with the La Romanella sauces line, Cook Italia prepared meals and Vivi G juices.
